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Fortified Food Market Overview
Fortified Food Market size is estimated at $172.4 Million in 2020, projected to grow at a CAGR of 6.1% during the forecast period 2021-2026. Fortified Foods are foods that possess nutrients supplemented to them that are not organically present in them. These foods are aimed at enhancing nutrition and supplement health advantages. For example, milk is frequently fortified with vitamin D and calcium could be supplemented to fruit juice extracts. The rising appreciation around keeping up an ailment-free and a healthful way of life is driving the fortified foods market worldwide. Fortified foods supply additional microelements are inclusive of significant trace elements and diverse vitamins. An enhanced food implies that nutrients which disappeared at the time of processing are supplemented. Further, various refined grains are enhanced such as wheat flour could be supplemented back with folic acid, riboflavin and iron after processing. This is targeted at bringing back its authentic vitamin levels. Typical diseases that are brought about by lack of nutrients such as rickets and pellagra have been practically removed through the intakes of fortified foods and this determinant is fuelling the growth of the fortified foods market during the forecast period 2021-2026.
Report Coverage
The report: “Fortified Food Market Forecast (2021-2026)”,
by Industry ARC, covers an in-depth analysis of the following segments of the Fortified Food Market.
Key Takeaways
- Fortified Food Market growth is being driven by the rising prevalence of incessant ailments like obesity, diabetes and cancer.
- Geographically, North America Fortified Food Market dominated the global market by 44% revenue market share in 2020 owing to increased mindfulness of health and the great attention on fortified foods in the U.S. is fuelling the Fortified Food Market during the forecast period 2021-2026,
- Children are specifically susceptible to the insufficiency of nutrients. Plenty of children and teenagers do not match the everyday nutrient essentials in the absence of supplementary vitamins and minerals. Fortified and enhanced diets are significant origins of nutrients for children, particularly for iron, zinc and B vitamins. These advantages are propelling the Fortified Food Market during the forecast period 2021-2026.
- Food makers turning their attention towards the manufacture of fortified commodities is propelling the Fortified Food Market during the forecast period 2021-2026.
Fortified Food Market: Market Share (%) by Region, 2020
Fortified Food Market Segment Analysis – By Type:
Based on Type, Basic Fortified
Food Market accounted
for the largest revenue market share in 2020 owing to the people’s increasing
inclination towards healthier diet options amidst the crisis created by the
COVID-19 Pandemic. Also, the basic food segment is estimated to grow with the
fastest CAGR of 6.4% during the forecast period 2021-2026 owing to the
increased demand for dairy products like yoghurt. Furthermore, dairy products
are valuable sources of calcium and can fight lack of vitamin D and calcium
globally. These determinants are propelling the fortification of basic foods
rather than processed foods in the fortified foods market during the forecast
period 2021-2026.
Fortified Food Market Segment Analysis – By Application:
Based on Application, Dairy products segment dominates the Fortified
Food Market in 2020 and is also estimated to grow with the fastest CAGR of 6.8%
during the forecast time period of 2021-2026 owing to great demand for yoghurt
and other dairy products. The highest CAGR of the segments is also owing to the
reason that dairy products are valuable sources of calcium and are
ideally-suited to fight vitamin D deficiency and lack of calcium worldwide.
Fortified Food Market Segment Analysis – By Geography:
Based on Geography, North America Fortified Food Market accounted for 44% revenue share in 2020. The rising prevalence of chronic ailments is making customers more health conscious and customers are switching to healthier diet options like fortified food. Fortified foods provide the human body with good nutrients, vitamins and minerals which decreases the risk of ailments. These determinants are propelling the Fortified Food Market. As per the Centre for Disease Control and Prevention, heart ailment is a primary cause of people losing their lives in U.S. and nearly 6,47,000 Americans lose their life from heart disease annually, which is one of every 4 lost lives. Thus, the rising number of cardiovascular and other ailments worldwide is estimated to produce greater demand for a healthy diet, which is fuelling the fortified foods market during the forecast period 2021-2026. The Asia Pacific market is estimated to expand with the highest CAGR during the forecast period 2021-2026 owing to the rise in demand of nutritive diet options. The increasing appreciation of nutrition in nations like China and India is propelling the Fortified Foods market in the Asia-Pacific region.
Fortified Food Market Drivers
Boost In Acceptance Of Healthy Diet Practices:
The primary
advantage of food fortification is that it does not need the intended association
of people to alter their food practices but can be put into action by the food
industry. Furthermore, it connects with huge number of customers by way of
retail. It has the support of the Food and Agriculture Organization of the
United Nations which advises that governments in nations with large starvation
rates regard fortifying food with iodine, vitamin A and iron specifically and
that they control and balance fortification. The rising populace and alteration
in dietary patterns of customers are driving the fortified foods market. People
are more health conscious and are ready to spend more on healthy diet options.
This inclination of purchasers is driving the vitamin D fortified and mineral
enhanced food market. The market share in developed economies is being fueled
by the mindfulness of health of end users like pregnant women, keepers of
babies and the elderly populace as they are mindful of the advantages of
fortified foods and beverages. Boost in disposable incomes in developing
economies coupled with enhanced health regard is propelling the market growth
during the forecast period 2021-2026.
Fortified Food Market Challenges
Licensing issues, Harmful Effects of Fortified Foods And Rising Supervision From Food Safety Department :
The
problems connected with license and boost in supervision from the food safety
department and hazards to well-being of customers caused by enormous inclusion
of some minerals and vitamins in the diet options are the challenges for the progress
of the Fortified Food Market during the forecast period 2021-2026. Fortified
foods are normally heavily processed and contains high measure of sugar, fats,
sodium, Vitamin D and other constituents that can result in conditions like
obesity and cases of vitamin overdose. The diet might contain an excessive
amount of vitamins and minerals which can be injurious to health, these
determinants are posing restraints to the progress of the Fortified Foods
market during the forecast period 2021-2026.
Fortified
Food Market Landscape:
The Fortified Food Market Market's main strategies include innovative
product launches, mergers and acquisitions, joint ventures, and geographical
expansions. Fortified Food Market top
10 companies are Dean Foods Company, Kraft Foods Inc., Kellogg Company, Meiji Holdings Company ,
Ltd., Nestle S.A., Unilever Company, BASF SE, General Mills Inc., Tata
Chemicals Limited and Mondolez International.
Acquisitions/Product Launches:
- In April 2021, targeting to grow its influence nationwide, NuShaktiTM, a brand of DSM, planned to advance improved nutrition for India, declared the introduction of a series of home food fortifiers in Hyderabad. The commodities are specified systematically with required vitamins and minerals to match the nutritive requirements of urban and rural customers who are seeking improved nutrition and more healthful lifestyles.
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